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Board reviews unaudited Sept. 30, 2024 financials and flags variances; signage and rust noted
Summary
CDD staff presented unaudited financial statements showing multiple budget variances (Engineering 209% of budget; Contingencies 421% due to misclassification; Debt Service 2022 note at 205% of budget). District Engineer also reported incorrect Southern Hills sign copy and numerous rusted lake/wetland signs needing inspection.
Cleo Adams presented the unaudited financial statements as of Sept. 30, 2024 and identified several apparent miscodings and variances. She noted General Fund 'Engineering' at 209% of budget and said Corporate was asked to provide paid invoices for review. She also said 'Contingencies' is at 421% of budget because $4,209 belongs under 'Other contractual' as a landscaping expenditure, and a 'Debt service (prin & int) 2022 note' line at $74,480 equates to 205% of budget; she reported Corporate addressed an error and it will be corrected in the next financials.
District Engineer Charlie Krebs said he has emailed Lykins-SignTek about incorrect monument signage (Southern Hills Drive should read correctly rather than Southern Hills Court) and reported about 50 or more rusted lake and wetland signs. Operations Manager Shane Willis was asked to inspect conservation area signage and remind Premier Lakes staff about planned sign installations. The Board asked for updated report dates and supporting invoices to reconcile budget lines.
